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Reinsurer Puts Off Filing Annual Statement

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Scottish Re Group Ltd. says it will postpone releasing its 2007 Form 10-K while it works on accounting and disclosures relating to subprime and Alt-A securities holdings.

Scottish Re, Hamilton, Bermuda, will be asking the U.S. Securities and Exchange Commission for an extension of time to file the Form 10-K annual report.

The company expects to file the report around April 1, the company says.

The regular deadline would be March 17.

In addition to the company needing more time to work on accounting and disclosures, “the company’s independent auditors also need the additional time to complete their audit of the financial statements and the audit of internal control over financial reporting,” Scottish Re says.